New discount on notaires’ fees
Recent reforms to notaires’ fees is welcome news to any buyers thinking of investing in property in France. The changes, which come into effect on 1 May 2016, form part of the Loi Macron and will allow
notaires to offer a discount on their fees. As a result of these changes, the maximum fee that notaires can charge is10% of the value of the
property, and there is a minimum fee of €90. For transactions over €150,000, notaires will also be able to offer a discount of up to 10%. It is advisable for purchasers to obtain written confirmation of this discount from the beginning, establishing if a concession will be granted and for how much. A substantial property purchase will be matched with a considerable 40% discount on fees for properties
over the €10 million mark. However, it must be noted that these discounts only relate to the notaire’s fee and not the taxes and charges which the notaire collects for the government on completion, similar to Stamp Duty Land Tax and Land Registry fees. These discounts
also do not apply to new-build properties.